Jet Airways net rises on aircraft sale-lease

Mumbai, April 29 | Updated: Apr 30 2006, 06:44am hrs

Indias largest private carrier Jet Airways on Saturday said it posted a 15% growth in net profit at Rs 452.04 crore for the year ended March 31, 2006 as compared to Rs 391.99 crore in fiscal 2005, helped by profits from sale and lease back of five aircraft amounting to Rs 270 crore.

Net income increased 39% to Rs 6,135.47 crore in the current fiscal as against Rs 4420.70 crore in 2004-05.

The company posted a net profit of Rs 227.12 crore for the quarter ended March 31 as compared to Rs 133 crore for the comparable quarter last fiscal. Total income increased to Rs 1969.56 crore in the fourth quarter. The companys international operations, however, showed a loss of $38 million (Rs 171 crore) for the entire year.

Jet Airways chairman Naresh Goyal said, We are concerned about the high level of input costs, primarily fuel and we expect that the coming year could remain challenging on this front.